1) Ibadan-Kaduna rail project is $6.7bn (N2.4trn).
2) Mambila Hydro Power Plant is $5.3bn (N1.9trn), to generate over 3000MW.
3) Lagos -Ibadan railway project is $1.5bn (N0.54trn).
4) Kaduna-Kano railway project is $900m (N0.324trn).
5) Lagos-Calabar coastal railway project gulp $11bn (N3.96trn).
The above five projects cost a total sum of (N9.124trn).
There are other railway projects that are either ongoing, contractual or on reconnaissance survey stages across the country that involve trillions of naira like the Abuja-Itakpe, Itakpe-Ajaokuta-Warri, Port Hacourt-Aba-Umuahia-Enugu-Makurdi-Jos-Bauchi-Damaturu-Maiduguri railways, tagged Eastern corridor.
Meanwhile, the APC government has spent trillions in the power sector to improve supply from 3000MW they met to 7000MW. It is good to know that power transmission sub-sector is 100% owned by government and the APC has done direct investment in it across the country more than any other government since 1960.
Furthermore, the APC has equally spent trillions of naira on roads across the country apart from the N1.7trn debts on roads alone inherited from the PDP government, owed contractors.
Apart from these hundreds of road projects which include bridges; water and agricultural projects are been carried out which include the six billion naira (N6bn) Otuoke Water Scheme commissioned last year.
PMB surely beyond 2019.
My take:
Am not an economist, But we all are a little intelligent, we study a little of mathematics and economics.
Yes the debt to GDP ratio might be high. But it depends on what the loan is spent on.
Jonathan's government with madam World Bank in charge were borrowing to pay salaries and keeping a lot of our earnings from crude OIL for themselves.
At the end of 16 years in government, with all the $Billions earned, we did not have any infrastructure in place. Now we have an Almajeri President who loves the country more than his family. Borrowing to have all these in place, they are CRYING.
Why are they crying, in case they comes in (God Forbid) they will find it very difficult to borrow money.
Please, LET US be, LET the man swims as he feels like. He is the President. Majority of Nigeria voted for him.
Ola Shamsuldeen Adeniji
Cups Director
